Federal deficit likely now at $260 billion due to COVID-19, PBO says | CBC News

Federal deficit likely now at $260 billion due to COVID-19, PBO says | CBC News

Parliament’s spending watchdog says the estimated deficit for the year has likely risen to about $260 billion, leaving the government with little fiscal firepower to stimulate an economic rebound. Parliamentary Budget Officer Yves Giroux said the last time the PBO looked at basic income, it estimated the federal cost at between $76 billion and $86 billion…

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U.S. Federal Reserve slashes rate to near 0 in effort to offset COVID-19 impact | CBC News

U.S. Federal Reserve slashes rate to near 0 in effort to offset COVID-19 impact | CBC News

Business·BreakingThe Federal Reserve took emergency action Sunday and slashed its benchmark interest rate by a full percentage point to nearly zero and announced it would purchase more Treasury securities to encourage lending to try to offset the impact of the coronavirus outbreak.The Associated Press · Posted: Mar 15, 2020 5:16 PM ET | Last Updated:…

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